City First Bank Secures USD 75 Million NMTC Allocation for Community Investment
Published on February 2, 2026
City First Bank has been awarded a USD 75 million New Markets Tax Credit (NMTC) allocation from the US Community Development Financial Institutions Fund, strengthening its ability to direct capital to underinvested communities nationwide.
The federal allocation will support projects in education, healthcare and community infrastructure, sectors closely linked to long-term economic mobility and wealth creation. Since the NMTC programme began, City First Bank has deployed USD 548 million in NMTC financing across 54 projects, helping expand access to essential services in low-income areas.
Commenting on the award, President and CEO Brian Argrett said the allocation will enable the bank to partner with mission-driven organisations and deliver capital where it can create lasting, generational impact.
As part of the expansion, City First Bank also announced new appointments to its NMTC Advisory Council, reinforcing governance and community-centred oversight as demand for impact-focused investment continues to grow.